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A message from ABA CEO Allison Hill

5/11/2020

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Dear Booksellers,

Today’s update is an urgent request from ABA’s advocacy team. I’m turning this over to them, and I appreciate your attention to this important matter...

We need you to take action to support the Small Business Expense Protection Act.

On April 30, an IRS notice declared that businesses that qualify for PPP loan forgiveness cannot deduct wages or other business expenses they paid for with forgiven PPP funds. A new bill would reverse that IRS rule.

On May 6, a bipartisan group of U.S. Senators introduced the Small Business Expense Protection Act, which would clarify the Paycheck Protection Program (PPP) so small businesses can deduct from their taxes expenses paid with a forgiven PPP loan. The bipartisan group consisted of Senators John Cornyn (R-TX), Chuck Grassley (R-IA), Ron Wyden (D-OR), Marco Rubio (R-FL), and Tom Carper (D-DE). 

Please reach out to your Senators and Representative to express your support for this legislation.

Tell your lawmakers: 
“Support the Small Business Expense Protection Act to reverse the IRS’s misguided ruling prohibiting businesses from deducting expenses associated with PPP loans. This IRS guidance is the opposite of what Congress intended when crafting the CARES Act. Small businesses that receive PPP loans should not be penalized with an unexpected tax bill when they receive urgently needed federal relief. I urge you to support this legislation so expenses paid with a forgiven PPP loan can still be deducted from small businesses’ taxes. This is much-needed to make sure small businesses have the liquidity and help to get through these difficult times.”To find contact details for your federal lawmakers, go to www.usa.gov/elected-officials.
Thanks in advance for your outreach!

ABA is here for all of you. Please reach out if there is anything we can help with. We are an incredibly creative, resilient, supportive industry. We’ll get through this, together.

Best,
Allison
​
P.S. Please let us know if you hear back from your legislators!
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  • About
    • Join GLIBA
    • Bookstore Members
    • Board of Directors >
      • Past Board Members
    • Our By-Laws
    • Publisher Members
  • Catalogs
    • Holiday Catalog >
      • Holiday Catalog for Publishers
    • Summer Catalog >
      • Summer Catalog for Publishers
  • Events
    • Spring Forum 2023
    • Rep Night 2023
    • Past Events >
      • George Saunders
      • Spring Forum >
        • Spring Forum 2022
        • Spring Forum 2021
        • Spring Forum 2020
        • Spring Forum 2019
        • Spring Forum 2018
      • The Lit Show >
        • The Lit Show: Chapter 3
        • The Lit Show: Chapter 2
        • The Lit Show: Chapter 1
      • Heartland
      • Group Bookstore Events
      • Rep Night >
        • Rep Night 2019
        • Rep Night 2018
      • Chicagoland Bookstore Crawl >
        • Chicagoland Bookstore Crawl 2022
        • Chicagoland Bookstore Crawl 2018
  • Bestsellers
  • Heartland
  • Awards
    • Heartland Booksellers Award
    • Voice of the Heartland >
      • Past Winners
  • News
  • Publisher Promotions
  • Publishers, Authors and Industry Affiliates Info
    • Advertise with GLIBA
    • MIPA
    • Bookseller ARC Requests and Preferred Reading Genres
    • For Authors
  • YouTube Channel
  • Past Holiday Catalogs
    • Holiday Catalog 2021
    • Holiday Catalog 2020
    • Holiday Catalog 2019
  • Bookseller Resources
    • Publisher Imprint Graphics
    • Rep List
    • Publisher Social Media
    • Reporting Your Sales
    • New York Trip
    • CHILOVEBOOKS
    • Tools of the Trade
    • Anti-Racism Resources
    • Covid-19 Resources
    • The Independent Bookseller
    • On-Line Links
    • Advocacy
  • Board Information